Faculty :
(a) Every Institute should have at least one qualified permanent full-time faculty for each stream i.e. for Life and Non-Life having any of the qualifications as prescribed below:-
1. I 0 years of experience in the managerial cadre with any insurer.
2. The qualified surveyors, Engineers with B.Tech Degree from recognized universities, CA, CS and ICWAl qualified professional
3. LOMA level 1 Qualification.
4. Associate from Insurance lnstitute of India.
5. Post graduation qualification in insurance provided by university recognised by UGC like PG diploma in insurance, MBA in insurance, Associate from CII, London and Diploma from IIRM, Hyderabad.
6. Qualified students of post graduate diploma in insurance earlier approved by IRDA in year 2003 offered by IRDA approved institutes.
(b) attendance register of the faculty members should be maintained at the training institutes.
(c) The record of the payment made to faculty should be maintained at the training institute i.e. batch-wise payment detail should be maintained. In case the employment of the faculty is full time, record of monthly wages payment should be maintained. All payments to faculty will be made through bank.
(d) The faculty should provide details of the other Institutes with whom they have been empanelled as parttime/ guest faculty. The faculty must also inform the other Institutes of his/her leaving one institute and joining any other training institute. Any change in main qualified permanent faculty must be intimated to the Authority within one month.
(7) The Agents Training Institutes must impart pre recruitment training to only those candidates who are sponsored by insurers by online allotment of training slot and training completion certification on portal.
(8) The Agents training institutes are permitted to undertake courses on insurance, sponsored by Insurers or being conducted by Ill, NIA, IIRM, Actuarial society of India, CII London or any other insurance related training. Agents Training Institute must have at least one classroom dedicated for pre recruitment training.
(9) For the purpose of accreditation of private Agents Training lnstitute the proof of ownership or tenancy of the premises in the name of Agent Training lnstitute are sufficient for accreditation. In case of in-house Agents Training institute where the training centre is situated in the branch approved by IRDA, copy of IRDA approval of branch is acceptable.
(10) Infrastructure: It is mandatory for every Agent Training lnstitute to have at-least one classroom with a minimum carpet area of 200 sq. Feet apart from office room and wash room, dedicated to 50125 hours training. Every Agent Training lnstitute must provide one computer for each classroom to practice the online exam mock test. The classroom should have comfortable seating arrangements permanently available.
(11) Batch size the maximum number of candidates permitted in a batch for training will be 40. To reduce the cost of training, Agent Training Institutes may include candidates from different insurers in the same batch provided the total number does not exceed maximum number of candidates permitted.
(12) The insurance institute of India (1.1.1) shall regularly send their officials to oversee the proper conduct of the training at the institutes and would not sponsor candidates to those institutes that are not maintaining the required standards of and facilities for the training. In-house training centers will be subject to regular inspections and audit by the insurer concerned in addition to inspection by officials of the Authority and 1.1.1.
(13) The training institute must display the certificate of accreditation to impart training issued by the Authority at the training institute.
(14)The institute should not allow a franchisee to conduct courses on its behalf, even with the faculty of the Institute. The institute should conduct the training only on its approved premises with proper infrastructure.
(15) No marketing fee/consultancy fee payment is permitted for getting the training batches.
(16) It will be the responsibility of the insurance Company to check the status of the institute before sponsoring any candidates for training.
(17) In case of the cities where there are no accredited institutes or the institute is situated 50 Km away an insurance company intends to appoint agents, it will be the responsibility of the insurance company to conduct training. The employed faculty only of the in-house training centers may impart training at such places. No temporary/guest faculty is permissible for the in-house training centers of the insurers. The insurers may seek prior approval to conduct such batches from the Authority.
(18) The Institutes must keep with them one set of original records of the training at the place where the training is being imparted. The institute with multiple locations must keep copy of all training records at head office of the institute however original record has to be kept at respective center only.
(19) The Institute should confine its activities generally within 50 KM radius only to the place city for which it has been given the approval. No training for the candidates outside the said place city is permitted. If during the course of the inspection by the officials of the Authority, it is found that the institute is not maintaining dedicated class-room, the accreditation of the institute will stand cancelled without giving any notice.
(20) The institute may ensure that the batch size/batches taken by the institute are commensurate with the infrastructure1 facilities available and approved by the Institute.
(21) In order to ensure prompt compliance and smooth monitoring all the insurers are advised to nominate a nodal officer at corporate level who will be responsible for communicating with Authority in the area of training on the lines of designated officers for licensing.
(22) The existing Institutes should report compliance with these instructions within 15 days from the date of issuance of these guidelines. The institutes must inform the authority the location and contact details of head office of the institute.
(23) The Insurance companies/ATls are advised to consider the current address of the candidates for nomination to a particular location. Training institutes are allowed to admit candidates from the same district where the AT1 is located or any other district which shares the boundary with the district of the ATI.